Ingredient of revocation of gift
Raja
(Querist) 02 November 2011
This query is : Resolved
what are the ingredient of revocation of gift?
prabhakar singh
(Expert) 02 November 2011
Yes!Expert sanjeev murthy desai is right.
Section 126 of the transfer of Property Act, 1882 lays down that conditional gifts are allowed by law. The requirements as to validity of conditions are::
A condition should not be vague.
A condition should not be inherently impossible of performance.
The condition should not be illegal.
The condition should not be immoral.
The condition should not be opposed to public policy.
If the conditions attached to a gift, whether as conditions precedent or as conditions subsequent, satisfy the requirements mentioned above, they are valid and can be given effect to.
ajay sethi
(Expert) 02 November 2011
agree with experts
pritamsaini
(Expert) 02 November 2011
i also agree, if the gift has been exepted by donee it cannot be revocked by way of executing deed..
Raja
(Querist) 02 November 2011
what is the procedure to revoke a gift?
Raja
(Querist) 02 November 2011
i have asked for the 'ingredient' - an element, component part, ...
ajay sethi
(Expert) 02 November 2011
. the following are essential ingredients for revocation of gift:
i) there must be an agreement between the donor and donee that the gift shall be revoked on the happening of a specified event;
ii) such event must be one which does not depend upon the will of the donor;
iii) the condition as to the revocation should be agreed to by the donee at the time of accepting the gift. And,
iv) the condition should not be illegal, or immoral
Shailesh Kumar Shah
(Expert) 04 November 2011
Shri Ajay Sethi rightly explained essential ingredients for revocation of gift.
mathivanan
(Expert) 04 November 2011
Gift cannot be revoked by stipulating any condition in the 'Gift deed'. Gift once given cannot be revoked by any other subsequent deed (though in practice many are doing so), but...The ingredients under which gift can be revoked are 1) when it is not acted upon, 2) when the gift deed has been obtained by fraud. Such cancellation or revocation can be done by filing a civil suit.
Raja
(Querist) 11 November 2011
procedure?
